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One in five younger Britons believes their bank would ask for their full PIN, password and private details, double the figure for the nation.

Many also believe their bank would ask them to transfer money out of their online bank account for security reasons or ask for remote access to their computer, both tricks regularly used by con artists.

As part of Santander’s annual scam awareness campaign, Paul Wilson, scam expert and host of the BBC TV show The Real Hustle, took to the streets and was able to persuade 85 per cent of those he approached to hand over their bank details.

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Some 13million have already been duped, representing one in four of all British adults

Wilson said that fraudsters operate by gathering pieces of information one bit at a time: “By understanding how scammers operate and being vigilant, we can protect ourselves.”

He said if something sounds too good to be true, it almost certainly is, with four out of 10 scam victims admitting they felt something suspicious was going on, while one in three ignored their gut instincts.

New strategy

Now the payments industry is launching a strategy to help people manage their finances better and stamp out fraud The Payments Strategy Forum has proposed a new safeguard called Confirmation of Payee, which will help prevent bank customers from sending payments to the wrong people by checking the recipient’s identity before any funds leave the account.

This simple step is designed to stop people transferring money by typing in the wrong account details or after being tricked by fraudsters.

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Research suggests that 18 to 34-year-olds are actually less security savvy

One step ahead

Many fraud victims believed they were actually speaking to their bank and thought they were moving money into a safe account only to lose it all.

Forum chair Ruth Evans said £755million was stolen from UK bank accounts last year and the problem is set to worsen as criminals become more savvy.

Hannah Maundrell, editor-in-chief of Money.co.uk, said the move is a step forward, but much more must be done: “The recent attack on Tesco Bank highlighted hackers’ ability to exploit vulnerabilities and it is vital the banking industry protects its customers.”

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Although many consider that older people are most likely to be conned

Fight back

Karen Tyler, head of fraud at Santander, said you can protect yourself against telephone and online scams by never handing over personal, account or security details.

Do not rely on caller ID, as numbers can be spoofed by fraudsters.

“Be wary of all cold calls purporting to be from banks, police or other trusted organisations.

If you have any concerns, call back on an independently verified number,” said Tyler.

Never allow someone to have remote access to your computer during a cold call or log onto your online bank by clicking on a link in an email or text.

She added: “Install anti-virus software that includes an antiphishing programme.

Trusteer Rapport is free and provides an extra safeguard when you are banking online.”